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Okobank Osuuspank. (09IA)

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Tuesday 16 May, 2000

Okobank Osuuspank.

Op-Prime Reference Rate

Okobank Osuuspankkien Keskuspankki
16 May 2000


OP-PRIME RATE UP TO 4.5 PER CENT

OKOBANK Group Central Cooperative's Executive Board decided on May 16, 2000 to
raise the OKOBANK Group's Op-Prime reference rate from 4.00 per cent to 4.50
percent, effective June 5, 2000. The decision was based on the recent rise in
market interest rates as well as on the views on the trend of the interest rates
in the near future.

Faster growth within the euro area, the weakening of the euro and the inflation
risk associated with these developments have contributed to a rise in both key
ECB interest rates and market rates. The main refinancing rate has been raised
to 3.75 per cent and the 12-month Euribor rate, widely used as a reference rate
in lending, has risen to around 4.80 per cent.

OKOBANK Group Central Cooperative


Markku Koponen
Assistant Director

DISTRIBUTION

Helsinki Exchanges
Principal Media

FURTHER INFORMATION
Mr Heikki Vitie, Executive Director, Tel. +358-9-404 4477

   

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